Amex GBT sees record Q2 earnings amid 'strong' SME growth

After a remarkable performance in the second quarter, the TMC has revised its annual forecast to reflect a 22% year-on-year surge

Thanks to a return to normal travel volumes and robust growth in the SME segment, American Express Global Business Travel witnessed a substantial 22% increase in revenue compared to the same period last year.

Key takeaways

• Q2 2023 revenue climbed to $592 million, marking a 22% surge from the $486 million recorded in Q2 2022. Year-on-year transactions saw a 12% rise, with the total transaction value experiencing a 13% upswing, reaching $7.34 billion in Q2.
• The TMC's strategic focus on the SME business travel market yielded positive results, as transactions through these smaller and mid-sized organizations surged by 15% compared to the previous year.
• The TMC's Neo and Egencia online booking tools displayed a strong performance, achieving a 20% transaction growth in the second quarter. Additionally, the company bolstered its Slack integration by introducing live agent chat services.

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